ETH/BTC breaking resistance! On-Chain Outlook Edition #17 (03/12/2021)
ETH/BTC breaks resistance ⚡ Read tonight's edition for Q's update On-Chain - featuring Bitcoin & Ethereum 👇
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ETH breaks out of resistance - but is it really the ‘flippening’?
Yet another week passes in the cryptocurrency markets, with no shortage of interesting developments from the On-Chain perspective.
First, consider the Ethereum/Bitcoin pair (ETH/BTC) broke through major resistance situated around 0.078 - despite Bitcoin’s choppy price action.
On the flip side, Metaverse leaders - e.g. $SAND & $MANA - have started pulling back towards key levels as the Metaverse and P2E coins take a much-needed breather.
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Ecosystem coins - e.g. $LUNA & $SOL - display an exuberant rebound, appearing to take little notice of Bitcoin’s boring and choppy price action. Furthermore, Qluster analysts report on Luna now reaching all-time highs.
In light of the recent milestone in the breakthrough of ETH/BTC, Qluster Data Labs outline the latest update on supply metrics for both Bitcoin & Ethereum.
For today’s edition, Q commences the on-chain assessment with Ethereum below…
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